Analysis June 11, 2010

You can see the changing market by the fact that we are back on two pages in printed form.

Because we are now in the “Selling Season” (and homes are actually selling), the “Hidden Inventory” is exposing itself.

(Homes held off the market awaiting the “Selling Season” are coming on the market.)

But with more competition, homes are being reduced in price. There were 14 price reductions of previously listed homes in the Meadows THIS WEEK.

Dolphin Realty ran the Realtors Caravan this week, and EVERY new listing on the Caravan was a “regular” sale. (As opposed to a Short Sale or Foreclosure.)

The homes on the Caravan ran the gamut from $400,000 to $1,200,000 and they were a good mix. One thing that was apparent was what I always preach to new Buyers in the Meadows: We have a lot of custom homes, and custom homes were built to please the person who built it. Depending on his/her taste, that home may meet the general market taste – or NOT!

The one advantage of a tract home is that they are a safe design – designed to meet the Bell-Shaped Curve. A custom home may be as standard, or as outrageous as the original builder wishes – he/she has no design constraints. That was obvious in one home – and still another home is equally as individual but not outrageous and in fact very pleasing.

We even previewed one home that is not yet in the MLS, and it was a well designed, small and well-priced home that will be in a future list. You can see that listings are coming in quickly, and most are reasonably priced for the market. We will see how that equates to sales. We always know what we have to sell…we NEVER know how many Buyers there are for tat inventory.

Without knocking a listing of a fellow Realtor, I’ll just tell you the one that is particularly good. It is the one below on Indian Creek Way.

New Listings This Past week;

Price Address Est SF Beds Bath Stry Yr Blt #Ac Mkt. Time $/SqFt
385,000 28573 Mountain Meadow Rd 1645 3 2 1 1977 4 234
399,000 28136 Glenmeade Wy 3048 3 3 2 1982 5 131
399,999 10244 Lake Meadow Ln 2543 3 3 1 1978 0.42 6 157
460,000 10874 Meadow Glen Wy E 2106 4 3 2 1975 4 218
469,900 28215 Glenmeade Wy 2294 3 2 2 1982 6 205
475,000 9643 Indian Creek Wy 3000 4 3 2 1975 0.34 4 158
549,000 10538 Aspen Gln 3058 4 3 2 2004 0.327 4 180
595,000 28756 Faircrest Wy 2916 5 3 SPLTLVL 1978 1.94 7 204
600,000 10341 Pinion Trl 3920 5 5 2 2004 4 153

No Meadows Homes went into Pending, and three homes closed escrow – one at $323,000, one at $443,500 and one at $649,000.

Analysis June 5, 2010

One new listing in the Meadows this past week.

Price                  Address              Est SF    Beds    Bath    Story    Yr Blt    #Ac    Mkt Time    $/SqFt
1,200,000    27658 Alps Ln    6118         5          6            2          1991         5               5               196

We may well see more higher priced listings coming on the market, and the market continues to pick up in the warmer months.

Four homes went into the Pending category this past week. 28618 Meadow Glen Way West was listed at #339,900; 10285 Spruce Woodlands Way was listed at $425,000: 10664 Carla Ct. was listed at $439,000 — $499,000: and 10563 Laurel Path was listed at $599,000.

(That is a GOOD week! Heck – that is a good MONTH!)

There was one home that “closed Escrow” this past week. 10923 Rim Road closed at $443,500. (2,300 s.f.)

Just a reminder: The homes that closed reflect the rising or lowering prices; the homes that went into pending reflect the movement of the market.

Just  reminder that at least one day a month, the Fallbrook Animal Sanctuary brings saved dogs and cats to our Deli parking lot for adoption.

With the economy being what it is, there are many animals available for adoption. We recently adopted a great cat who obviously came from a good home, was well behaved and loving. It cost us only $85 – a steal for such a great cat.

The next scheduled date is June 19 from 10 a.m. to 2 p.m.